Post #605

❗️Energy Insecurity: How US President’s Whims Raised Costs for Everyone As was easy to predict, the latest Trump-provoked exchange of explosive pleasantries in the Middle East has already driven up oil prices. On some markets, prices have surged by 12% compared to the moment the first Tomahawks were launched. 🔸 While one might hear that oil-producing countries like Nigeria and Angola benefit from this, the reality is that even there, it’s more about wealth shifting from people’s pockets into government ledgers and oil companies’ books: part of the increased revenue will come from higher domestic prices. 🔸For places without their own black gold, there’s only sympathy to offer. Even before such price hikes, rumors of fuel shortages alone have sparked panic at gas stations in several cases. 📣 The most extreme reaction came from Guinean drivers, who created a fuel shortage themselves by rushing to stockpile due to rumors of supply cuts, forcing the national oil company SONAP to issue a denial. Similar denials were released by authorities in Kenya, Uganda, and Zambia. In Tanzania, the president herself took the initiative and demanded that strategic reserves be reinforced. 💸 Although there are no serious supply problems yet, further destruction of infrastructure in the Persian Gulf may indeed lead to long-term price increases — and the rise in oil prices will affect not only motorists, but also all consumers, as transportation of everything from food to iPhones will become more expensive. Have you felt the price hike yet, or is it still not noticeable? ✈️ Stay informed - @devilsbelow